HOW TO PASS ICAEW FINANCIAL ACCOUNTING & REPORTING (FAR) ACA EXAM

[@orangeblossom1932]

Just passed my Corporate reporting exam. I watched this video in Feburay 2022, the time I was seriously struggling on FAR exam and started to consider I might not be the material. Thanks Luke for sharing your expirences and your view. It's really helpful.

[@4gn3t]

Got FAR in June, thanks for this

[@bikrambahadur6880]

same, good luck!

[@GlasswellLongwe]

@4gn3t do you have FAR or FM video courses. I'll really appreciate if you would share with me.

[@FinanceUnboxed]

Really useful video Luke 👏 As you're well aware, all the material can seem overwhelming at first but having tips, such as the ones you mentioned, do really help put students on the right path.

[@LukeKermodeACA]

Thank you, fantastic content on your channel also!

[@HappyEmileHeskey]

Great tips Luke especially re the presentation mark, currently in college for FAR and the content is pretty overwhelming at the moment. These videos are getting me through haha

[@theaccountant5652]

Hi UJ- I have made a few resources on FAR. If you want to check out, please see this link: kzbin.info/www/bejne/m4vXoH2ca91geqs I go through the consolidated statement of financial position and associated adjustments in this link but also I go through statement of cashflows at consolidation level. I will be moving onto CSoPL, CSoCIE.

[@WHYiNEEDABURGER]

I had my FAR exam today and just want to say thanks for these videos! Super helpful thank you Luke. Was a tough, but fair exam I felt

[@LukeKermodeACA]

Hope you get the pass when results come through!

[@mickallen1560]

Needed this so much, got my retake on Monday

[@LukeKermodeACA]

Anytime mate, keep calm and stick to your timings strictly and you will pass that is the key. Let me know how it goes.

[@LukeKermodeACA]

🎯 Check out the notes I used that helped me pass my FAR exam: www.etsy.com/uk/shop/LukeJamesUK

[@lisa-kr4wz]

have exams on this Mar, thanks for you tips, will stick to it!

[@LukeKermodeACA]

You got this Lisa! 👊

[@SWaTXReaPer]

On this day, a legend was born.

[@alexrussell-mills4458]

Hi Luke, please could you do a video on how to use the open book effectively for this exam?

[@LukeKermodeACA]

Sure Alex!

[@hamnamalik6216]

how many times did you do the question bank and mock exams?

[@kelvinchuttur1127]

Really useful Luke thank you so much. Might come across as a silly question, but did you divide your time by sub requirement, ie a,b,c & d or just Q1- 50 mins, Q2-35 mins etc. I normally divide my time by question but not sub-requirement. But i want to know what you advise please.

[@ribread1014]

I really want make a head start on my learning but I don't have the material, I have asked my provider but they can only give me access in February :( can some help me out with coursenotes and question bank ...would be eternally grateful

[@ChrisWestFF]

Hi Luke, we have our exams in the June sitting and only started towards the end of April, really struggling as we’re also doing TC and AA at the same time. Do you mean I should abbreviate to PPE, cash, NCAs etc? Do we get to take our own open book from home in that is tabbed and highlighted? I’m currently trying to learn proformas and the workings for consolidations

[@raibulislam1381]

Hi Luke, Thanks for sharing the tips. Can you let us know if you had followed any other books along with FAR study manual.

[@LukeKermodeACA]

Hi Raibul - thanks for watching. Yes I studied with Kaplan, so I used there course notes and revision materials! 🔖

[@randomb1397]

Hiya Luke, great vid as usual! How long would you recommend to take with FAR from start to end/exam? Considering doing it as a solo exam in March after my certificate level exams finish in late December, so would be dedicating the 15 ish hours a week to only that module for 3 months or so. Cheers!

[@LukeKermodeACA]

Hi Sam - As you are doing it on its own I would say 5-6 weeks should be fine, make sure those weeks are relatively intensive though! Good luck! Luke

[@randomb1397]

@@LukeKermodeACA Sounds like a good way to go then, thanks so much!

[@xVeGMaNx]

Love the jumper mate

[@LukeKermodeACA]

Thanks dude! FAR - it is arguably the hardest but once you get through it you are over the biggest hurdle - a bit like ripping off a plaster!

[@andrianahadj8618]

Hello! You are soooo helpful and i would like to thank you! Also, i have a question about the open book and the differences between the IFRS and UK GAP. Can we copy them from the book or no?

[@LukeKermodeACA]

Hey Andriana! Thanks for the lovely message! Yes you can copy from the open book!

[@manudepfyffer392]

hey man, thanks for the Video. Could you do a video about how we should schedule our exams over the 3 years, I.e (Year 1 certificate, year 2 Professional, year 3 Advanced and which ones to tackle first and then which ones follow on best from previous exams and so on) Thanks

[@IncredibleMet]

Have you seen his latest videos? He goes into detail about it

[@ikhmalz88]

Hey Luke, thank you for sharing this video. I have trouble on studying this subject. Would you mind sharing the tips on how you study this subject? Especially there are so many materials to read. Please help😭

[@mohammedaabid6886]

Thanks for this vid. Just wanted to ask what your revision schedule was like?

[@LukeKermodeACA]

First one third of my time was a blend of notes and question practice, final two thirds of my time was pure question practice only referring back to notes for topics I really didn't understand. Thanks for watching!

[@BurleyKTFO]

Hey mate did you not used to study for the CFA? I remember you had videos on this. Did you change direction ?

[@cameronmilne3590]

Did you find organising the QB into topic areas useful? I've got my exam on the 07/12 but the contents page for the QB is scary! How did you approach it?

[@LukeKermodeACA]

Hey thanks for the message hope you are doing well, yes there should be a contents page at the front of the QB which directs you to the relevant chapter areas in the study manual, additionally I noted down which topics each question covered when I went through the QB for the first time, so nearer the exam I could go back to any questions with topics I wasn't comfortable with. I found this a very useful approach as it held me accountable to go back and reread / redo any questions I found hard. Hope this helps, you have 3 months to go so plenty of time, the fact you are investing time in studying now is a very good sign in my eyes. LJ

[@kenside4136]

How should we answer the writing questions? I have been told different things... I’ve been told both it’s ok to just give bullet points with keywords and then someone else told me they must be full sentences?

[@LukeKermodeACA]

Hey Ken - for FAR answers must be long sentences - ie no bullets!

[@ellydillon3111]

this was so so handy

[@LukeKermodeACA]

Thanks Elly, glad you enjoyed!

[@successportal9712]

@@LukeKermodeACA can you please share list of short forms you used when doing FAR.. personally type slow.. that would help

[@successportal9712]

@@LukeKermodeACA for example how do I write revenue or depreciation.. and so on

[@scjf98]

Hi Luke. Thanks for the video. I'd like to ask, if I start my studying for the FAR paper from 1st Jan 2021 is it enough time to get an 80+% mark for the March sitting?

[@LukeKermodeACA]

Hi Sebastian, hope you are well? Yes it is, but you will need to put in the work

[@LiveCustoms]

Why did you want 80+% ? Isn’t 55% enough

[@benjaminamnk]

This exam is truly disgusting

[@abdulbz]

i think pro formas are given to us now

[@callumc1208]

Hey great content! Got my exam in December so will be using a lot of these tips. Got one question, when highlighting the open book did you do it as you worked or did you go through the open book first and then attempt questions? Just wondering what the best strategy is to learn the open book and prepare it.

[@LukeKermodeACA]

Hi Callum - go through the open book as you are doing questions, don't go through the open book first. Good luck and glad you enjoyed the video! Luke

[@callumc1208]

@@LukeKermodeACA Ok got it. Thank you very much for your advice!

[@Brayc-eq3cf]

Can you take aca exams from other countries by your own? Also after completing all of the exams you just need to get 450h of experience to become an accountant?

[@naznin8953]

Did you study ACA from ICAEW or from university? I’m trying to get into ICAEW in its school leaver program and I have a lot of questions, is there some way I can ask you those questions? Email you or some other way?

[@LukeKermodeACA]

Hi Naznin, instagram @lukejamesuk is the best way to contact me